If you bought in 2005 do you know what your yield on it is? You might investigate that before you sell it all. I would bet that it is yielding pretty high. The stock is not overvalued and a pretty safe stock in my opinion.

Whether a stock is "overvalued" and/or "pretty safe" are just opinions -- which have no bearing on the matter. As far as keeping a stock like VZ untouched for 15 years ..... take a look at Nokia. That's a high-risk industry.

The biggest issue I see is the risk, as AJ noted. 15% (30K of 180+30) of your portfolio in one company is much too risky.

Taking a quick look, from Jan'05 to now, the price-only (excluding dividends) gains are: VZ 40%, SPY 40%, FCNTX 63%.Both SPY and FCNTX are lower risk than VZ, since they both contain hundreds of stocks.